Overview
What is Nhs Redevelopment Corporation?
The Nhs Redevelopment Corporation, based in Chicago, Illinois, is a nonprofit organization dedicated to improving neighborhoods and providing affordable housing opportunities for low- and moderate-income families. They achieve this mission by redeveloping and preserving distressed properties throughout Chicago, turning vacant buildings into high-quality homes. The corporation has successfully created and developed over 425 affordable rental units in the Roseland, South Chicago, and Wrightwood neighborhoods. Through its affiliation with Neighborhood Housing Services of Chicago, Nhs Redevelopment Corporation strengthens communities and contributes to neighborhood safety by increasing the availability of affordable housing.
Official website here: www.nhschicago.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars, 74%
The NHS Redevelopment Corporation has received a Two-Star rating, indicating that there are areas needing improvement in its operations. The organization's Accountability & Finance score is 74%, which suggests that while it demonstrates strong governance in areas like board independence and compliance with conflict of interest policies, there are significant financial concerns, particularly reflected in its liabilities to assets ratio of 113.14%. This raises questions about its financial stability.
Strengths include a fully independent board and solid practices around financial oversight, such as having an audit and oversight committee. The organization also has comprehensive policies in place for whistleblowing and document retention. However, the absence of its tax form on the nonprofit's website is a noted deficiency, which affects transparency.
Additionally, while the program expense ratio of 64.69% indicates a reasonable allocation of resources towards its programs, the overall financial health is a concern that could impact its sustainability in the long run. Addressing these financial issues would be essential for improving its rating and building trust with stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Nhs Redevelopment Corporation legitimate?
Nhs Redevelopment Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nhs Redevelopment Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $286,096
For more financial information, click here
Official website here: www.nhschicago.org
What is the mission statement of Nhs Redevelopment Corporation?
The Nhs Redevelopment Corporation, in association with its parent organization, Neighborhood Housing Services of Chicago (NHS), strives to enhance neighborhoods and offer high-quality, affordable housing opportunities for low- and moderate-income families. They accomplish this by redeveloping and preserving distressed properties across various areas of the city. The corporation purchases, renovates, and sells single-family homes. Additionally, they collaborate with the housing court to stabilize distressed properties, thereby improving neighborhood safety and increasing the availability of affordable housing in targeted neighborhoods.
Official website here: www.nhschicago.org
Who is the CEO of Nhs Redevelopment Corporation?
Dwayne Shipp is the President of Nhs Redevelopment Corporation. The CEO's salary of Nhs Redevelopment Corporation is $0 and their total compensation is $227,573.
Official website here: www.nhschicago.org
What is the revenue of Nhs Redevelopment Corporation?
Nhs Redevelopment Corporation's revenue in 2022 was $647,175.
Official website here: www.nhschicago.org
Who are the executives of Nhs Redevelopment Corporation and what are their salaries?
There 8 volunteers at Nhs Redevelopment Corporation.
Here are 12 key members and their salaries (Nhs Redevelopment Corporation's CEO's salary is $0 and their total compensation is $227,573):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $154,108
- Other: $11,125
- Compensation: $0
- Related: $107,834
- Other: $17,910
- Compensation: $0
- Related: $80,410
- Other: $11,030
- Compensation: $0
- Related: $204,715
- Other: $22,858
Official website here: www.nhschicago.org
Where can I find the form 990 for Nhs Redevelopment Corporation?
Nhs Redevelopment Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nhschicago.org
Learn more at the official website: www.nhschicago.org
Mission Statement of Nhs Redevelopment Corporation
Nhs Redevelopment Corporation, affiliated with Neighborhood Housing Services of Chicago (NHS), is committed to strengthening communities and providing high-quality, affordable housing opportunities for low- and moderate-income families. Through its redevelopment and preservation efforts, the organization aims to improve distressed properties across the city. The corporation purchases and rehabilitates single-family homes, and collaborates with the housing court to stabilize distressed properties. This strategic approach enhances neighborhood safety and increases the availability of affordable housing in targeted areas. By doing so, Nhs Redevelopment Corporation contributes to the overall well-being of the communities it serves, providing a much-needed solution for families seeking affordable housing options.
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Impact
July, 2024
NHS Redevelopment Corporation's impact lies in its efforts to strengthen neighborhoods and provide high-quality, affordable housing opportunities for low- and moderate-income families in Chicago. Through developing and preserving properties, NHSRC has contributed to the creation of over 425 units of affordable rental housing for senior citizens in various neighborhoods. Additionally, the organization plays a crucial role in stabilizing neighborhoods by acquiring vacant properties, rehabilitating homes, and selling them affordably to homeowner-occupants.
By working in collaboration with its parent organization, Neighborhood Housing Services of Chicago (NHS), NHSRC plays a significant role in redeveloping and preserving distressed properties throughout the city. This not only improves neighborhood safety but also increases the availability of high-quality, affordable housing in targeted areas. Overall, NHS Redevelopment Corporation's impact is felt through its dedicated efforts to address housing needs and revitalize communities in Chicago.
This information is meant to be a general summary of Nhs Redevelopment Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $276,197
- Program Service Revenue: $483,336
- Gross Receipts: $1,259,588
Assets and Liabilities:
- Total Assets: $7,862,822
- Total Liabilities: $9,442,412
- Net Assets: -$1,579,590
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACTUAL SERVICES
Revenue
$479,953
PROPERTY MANAGEMENT AND DEVELOPME
Revenue
$3,383
Organization Details
Founding Year
1979
Phone
(773) 329-4144Principal Officer
Dwayne Shipp
Main Address
1279 N MILWAUKEE AVENUE, CHICAGO, IL, 60622
Website
www.nhschicago.orgNTEE Category
Code: L210 - Housing
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